Infographic Category Finance

How To Convert Canadian And US Money

By | source:Here Apr 24th, 2020

O Canada, the second largest country in the world by area, and a country that boasts the longest coastline in the world. It’s an incredible place to visit, but to do that you would need some Canadian Dollars! 

The CAD to USD exchange rate fluctuates over time.  However, given that the CAD tends to rise and fall together in tandem with the USD, exchange rates vary less between these two when compared to most other currencies.  In some ways like the US Dollar, the value of the CAD (also referred to as the loonie) is highly dependent on the price of oil.  This is because Canada, being one of the world’s largest crude oil producers and exporters, earns much of its foreign exchange earnings through the sale of crude oil.

As a freely floating currency, the Canadian dollar is fairly easy to get a hold of.  With technology it’s also become far easier to access the currency.  If you’ve never been and fancy going up to Canada for a hockey game or maple syrup, remember to bring the right currency.